August is recognized as National Make a Will Month, making it the perfect time to focus on creating or updating your legal will. If you’ve been postponing this task, now is an ideal opportunity to act; whether you’re drafting a will for the first time or revising an existing document to reflect recent life changes.
A will is a legal document that clearly articulates your wishes regarding the distribution of your assets after your passing. It also specifies who will take care of any minor children and communicates other final requests to your family and loved ones. By having a will, you provide clear instructions on how you want your affairs handled.
Why you should create or update your will.
Estate Planning:
A will is an essential part of estate planning, ensuring that your assets are distributed according to your specific wishes and preferences. Without this document, your estate may not be handled as you intended.
Minimizing Probate:
In the absence of a will, your estate may have to undergo probate, a court-supervised process that can be both time-consuming and costly. Having a will can help streamline this process, reducing delays and expenses.
Providing for Loved Ones:
A will enables you to designate who will inherit your assets and decide who will be responsible for the care of children you leave behind, ensuring that your loved ones are provided for according to your wishes.
Charitable Giving:
Your will can also be a tool for making charitable contributions. By including charitable organizations as beneficiaries, you ensure that your legacy supports causes you care about even after you’re gone.
Peace of Mind:
Organizing your affairs and having a will in place offers peace of mind, not only for you but also for your loved ones. It reassures everyone involved that your wishes are known and respected, providing comfort during a challenging time.
Did you know that Sky Lakes offers a free will planning resource?
By visiting Sky Lakes Foundation online you can create your legal will or trust in as little as 20 minutes, making it easier than ever to ensure your wishes are documented and your loved ones are protected.
